How to account for a loss of control in a subsidiary, including derecognition, retained interests, other comprehensive income and the resulting gain or loss.
Consolidated-financial-statements
Mastering the art of consolidated financial statements
- How to identify, measure and present non-controlling interests in consolidated financial statements, including acquisition-date and subsequent measurement.
- How to account for a business combination under common control using the acquisition method or pooling of interests, with criteria for assessing its substance and worked examples.
- How to account for a step acquisition when an investor already holds an interest in an investee, including goodwill, measurement-period adjustments and cash-flow presentation.
- How to identify a business, apply the acquisition method under IFRS 3 and ASC 805, measure acquired items and calculate goodwill or a bargain purchase gain.
- How to align subsidiaries with the group’s IFRS or US GAAP accounting policies, including consolidation adjustments and their deferred-tax effects.
- A practical guide to preparing consolidated financial statements under IFRS 10 and ASC 810, including combination, eliminations, NCI and reporting-period alignment.
- How to distinguish subsidiaries, joint arrangements and associates by assessing power, returns and control under IFRS 10 and the US GAAP consolidation model.